4 ways health insurers can move to a consumer-centric business model

Healthcare under the Affordable Care Act is becoming more customer-centric, and if insurance companies want to succeed, they must move from a purely transactional relationship with their members toward a customer-first relationship, according to an article from Advertising Age.

Customers increasingly want more personalized services as well as more information available online and in-person from their health insurers, FierceHealthPayer has reported. Some insurers have embraced this new reality, the article says, such as the startup Oscar, which seeks to create a more engaging customer experience through technology.

Yet not all insurance companies have yet taken on the customer-centric model, so the article recommends four practices that could help them focus their efforts:

Build a world around customers and treat them as though they are part of an exclusive club.

Value even the most seemingly mundane details and use them as an opportunity to make customers feel as though they are part of something special.

Speak to customers on a personal level, not "from above" to combat the stigma that healthcare organizations don't care about individuals.

Shift from a more technical and/or somber tone to make communications with customers more conversational.

These changes not only help insurance companies attract and retain more customers, but could heighten the transparency of provider performance and healthcare costs, the article says. And if insurance companies don't take the customer-centric approach seriously, they face losing key market share when customers move on to a better option.